Privatisation Of Public Sector Bank: The government is in the process of taking ‘advanced action’ to take forward the privatisation of public sector banks, top finance ministry officials asserted. In the Union Budget for 2021-22, Union Finance Minister had announced privatisation of two PSBs besides IDBI Bank. However, this year’s Budget Speech had skipped the […]
Category: Economics Current Affairs
Prime Minister’s Employment Generation Programme
Prime Minister’s Employment Generation Programme: The Ministry of Micro, Small and Medium Enterprises has approved the extension of the Prime Minister’s Employment Generation Programme (PMEGP) for five years till FY26. The PMEGP has now been approved for continuation over the 15th Finance Commission Cycle for five years from 2021-22 to 2025-26 with an outlay of […]
What Are Startup Unicorns?
What Are Unicorns? The number of unicorns in India reached the 100-mark. The total valuation of these unicorns is USD 330 billion, that is over Rs 25 lakh crore. The average annual growth rate of Indian unicorns is more than that of the U.S., the U.K. and many other countries. India has become the third-largest […]
Draft National Data Governance Framework Policy
Draft National Data Governance Framework Policy: The Ministry of Electronics and Information Technology (MeitY) recently released the revised Draft National Data Governance Framework Policy (NDGFP) and invited inputs on it before June 11th, 2022. NDGFP replaces Draft India Data Accessibility and Use Policy, 2022. The Draft National Data Governance Framework Policy (NDGFP) aims to enhance […]
Project NIGAH
Project NIGAH: Delhi Customs Zone, a field formation under the Central Board of Indirect Taxes and Customs, inaugurated project ‘NIGAH’ at Inland Container Depots (ICD) Garhi Harsaru, Gurugram. Project NIGAH is an initiative to track container by using ICTM (ICD Container Tracking Module) which will help in better visibility of the container movement inside the […]
7th Annual Meeting Of NDB
7th Annual Meeting Of NDB: The Union Minister of Finance & Corporate Affairs and India’s Governor for the New Development Bank (NDB) chaired the 7th Annual Meeting of Board of Governors of NDB (New Development Bank). The meeting was also attended by Governors/Alternate Governors of Brazil, China, Russia, South Africa and the newly joined members […]
India Recorded Highest Ever Annual FDI Inflow : FY 2021-22
India Recorded Highest Ever Annual FDI Inflow : FY 2021-22 India has recorded highest ever annual FDI inflow of USD 83.57 billion in the Financial Year 2021-22. In terms of top investor countries of FDI Equity inflow, ‘Singapore’ is at the apex with 27%, followed by U.S.A (18%) and Mauritius (16%) for the FY 2021-22. […]
New Development Bank (NDB) New Regional Office
New Development Bank (NDB) New Regional Office: New Development Bank (NDB) is setting up a regional office in Gujarat, India for funding and monitoring infrastructure projects in that country and Bangladesh. NDB is a multilateral development bank operated by the BRICS states (Brazil, Russia, India, China and South Africa). It was agreed to by BRICS […]
World Economic Situation And Prospects (WESP) Report
World Economic Situation And Prospects (WESP) Report: According to the World Economic Situation and Prospects (WESP) report that was released by the United Nations on 18th May 2022, the global economy this year is expected to grow by only 3.1 per cent. The earlier prediction in January was 4.0 per cent but the rate was […]
Is Recommendation of GST Council Binding?
GST Council’s Proposals: The Supreme Court, in a judgment championing the importance of “cooperative federalism”, held that Union and State legislatures have “equal, simultaneous and unique powers” to make laws on Goods and Services Tax (GST) and the recommendations of the GST Council are not binding on them. The apex court’s decision came while confirming […]
